Minal Industries Ltd (522235)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Minal Industries' revenue was ₹13.1 Cr (+30.6% year on year, -13.6% on the previous quarter), and net profit ₹2.4 Cr (+248.6% year on year); the operating margin was 15.5%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹13.1 | +30.6% | -13.6% |
| Operating profit | ₹2.0 | +175.5% | +129.1% |
| Net profit | ₹2.4 | +248.6% | +45.4% |
| Operating margin | 15.5% | — | — |
📢 Recent Corporate Announcements
Minal Industries announced the outcome of its board meeting held on August 27, 2026. The board approved the Directors' Report and 38th Annual Report for FY26 and scheduled the 38th Annual General Meeting for September 29, 2026, via video conferencing. The cut-off date for e-voting entitlement is fixed as September 22, 2026, with the register of members closed from September 23 to September 29, 2026. The board also approved related party transactions for FY 2027-28, subject to shareholder approval at the AGM.
- 38th Annual General Meeting scheduled for 29th September, 2026 at 11:30 AM IST via VC/OAVM
- Cut-off date to record e-voting entitlement fixed as 22nd September, 2026
- Register of Members and Share Transfer Books closed from 23rd September, 2026 to 29th September, 2026
- Approved related party transactions for FY 2027-28 subject to shareholder approval
Minal Industries Ltd has responded to BSE's query dated August 24, 2026 (Ref: L/suRV/ONL/Pv/sG/ 2026-2027 / 295) regarding significant price movement in its shares. The company clarified that it is in full compliance with SEBI LODR Regulation 30 and has made all required disclosures. Management confirmed that there is no pending announcement or unpublished price-sensitive information (UPSI). The company noted that the recent share price movement appears to be purely market-driven and beyond its control.
- Response to BSE query ref no. L/suRV/ONL/Pv/sG/ 2026-2027 / 295 dated August 24, 2026
- Confirmed zero pending announcements or unpublished price-sensitive information (UPSI)
- Reiterated full compliance with SEBI LODR Regulation 30 disclosures
- Attributed recent share price movements to market-driven factors beyond company control
Promoter and Managing Director Mr. Shrikant Jesinglal Parikh acquired 31,933 equity shares of Minal Industries Ltd via open market purchases on August 18, 2026. Following this transaction, his individual shareholding increased from 26,76,843 shares (1.39%) to 27,08,776 shares (1.41%). The acquisition represents a minor 0.02% increase in paid-up equity share capital with negligible financial impact on the company.
- Acquisition of 31,933 equity shares via open market on August 18, 2026
- Individual promoter stake increased from 26,76,843 shares (1.39%) to 27,08,776 shares (1.41%)
- Net addition of ~0.02% to the paid-up equity share capital
Minal Industries reported a severe operational downturn for Q1 FY27, with standalone revenue from operations collapsing by 96.6% YoY to just ₹19.26 lakhs. The company posted a net loss of ₹33.01 lakhs, compared to a profit of ₹37.92 lakhs in the same quarter last year. Crucially, the statutory auditor has raised a 'Going Concern' warning due to accumulated losses of ₹22.51 crore. The company also faced a BSE fine for regulatory non-compliance and is embroiled in an NCLT dispute regarding share ownership.
- Revenue from operations fell 96.6% YoY to ₹19.26 lakhs from ₹566.12 lakhs.
- Net loss for the quarter stood at ₹33.01 lakhs vs a profit of ₹37.92 lakhs in Q1 FY26.
- Accumulated losses reached ₹2,250.60 lakhs, prompting a material uncertainty warning from auditors.
- Interest income of ₹31.34 lakhs from subsidiary Minal Infojewels was not accrued due to the subsidiary's inability to pay.
- Maintained impairment provisions of ₹600 lakhs for investments and ₹1,200 lakhs for loans to its subsidiary.
Minal Industries reported a standalone net loss of ₹33.01 lakhs for Q1 FY27, a sharp reversal from a profit of ₹37.92 lakhs in Q1 FY26. Revenue from operations collapsed by 96.6% YoY to just ₹19.26 lakhs. The statutory auditor has issued a 'Material Uncertainty Related to Going Concern' warning, citing accumulated losses of ₹2,250.60 lakhs. Furthermore, the company failed to accrue ₹31.34 lakhs in interest from its subsidiary due to the latter's financial distress and is facing a BSE fine for regulatory non-compliance.
- Revenue from operations dropped to ₹19.26 lakhs in Q1 FY27 from ₹566.12 lakhs in Q1 FY26
- Accumulated losses stand at ₹2,250.60 lakhs, leading to a 'Going Concern' qualification by auditors
- Interest income of ₹31.34 lakhs from subsidiary Minal Infojewels Ltd was not accrued due to uncertainty of realization
- Maintained impairment provisions of ₹600 lakhs for subsidiary equity and ₹1,200 lakhs for subsidiary loans
- BSE has levied a fine for non-compliance with Regulation 33 regarding financial result submissions
Minal Industries has scheduled a board meeting for August 13, 2026, to approve its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The company currently operates with a TTM revenue of ₹43 Cr and a thin TTM PAT of ₹1 Cr. The stock has faced significant pressure, declining 47.6% over the past 12 months. Investors will be monitoring for a recovery in operating margins, which stood at -1.7% for the TTM period.
- Board meeting scheduled for August 13, 2026, to approve Q1 FY27 results
- Trading window for insiders has been closed since July 1, 2026
- Company reported a TTM revenue of ₹43 Cr and TTM PAT of ₹1 Cr
- Operating profit margin (OPM) remains weak at -1.7% for the TTM period
Minal Industries Limited has appointed Mr. Saket Rajendra Sugandh as Company Secretary and Compliance Officer, effective August 5, 2026. This is a mandatory Key Managerial Personnel (KMP) appointment under SEBI regulations. Mr. Sugandh brings 12-13 years of experience in legal and secretarial functions. The company, which operates in the trading sector, has seen its stock price decline by 52.5% over the past year and currently maintains a thin TTM PAT of Rs 1 Cr on Rs 43 Cr revenue.
- Appointment of Mr. Saket Rajendra Sugandh effective from August 5, 2026
- Appointee possesses 12-13 years of professional experience in secretarial and legal functions
- Board meeting for the appointment concluded within 30 minutes (3:30 PM to 4:00 PM)
- The appointee is designated as a Key Managerial Personnel (KMP) for materiality disclosures
Minal Industries Ltd has appointed Mr. Saket Rajendra Sugandh as the Company Secretary and Compliance Officer, effective August 5, 2026. Mr. Sugandh joins as a Key Managerial Personnel (KMP) with 12-13 years of experience in secretarial and legal functions. This appointment is a routine regulatory requirement for the company, which currently operates with a TTM revenue of ₹43 Cr and a thin net profit of ₹1 Cr. The board meeting to approve this appointment was conducted in 30 minutes.
- Appointment of Mr. Saket Rajendra Sugandh as CS and Compliance Officer effective August 5, 2026
- Appointee brings 12-13 years of professional experience in listed company compliances and SEBI regulations
- Board meeting for the appointment commenced at 3:30 PM and concluded at 4:00 PM
- Company reported a TTM revenue of ₹43 Cr and a negative operating margin of -1.7%
Minal Industries Ltd has appointed Mr. Saket Rajendra Sugandh as the Company Secretary and Compliance Officer, effective August 5, 2026. Mr. Sugandh is designated as a Key Managerial Personnel (KMP) and brings 12-13 years of experience in secretarial and legal functions. This appointment ensures the company meets regulatory requirements under SEBI (LODR) Regulations. The company currently operates with a TTM revenue of Rs 43 Cr and a thin PAT of Rs 1 Cr.
- Appointment of Mr. Saket Rajendra Sugandh (ACS 34266) effective from August 5, 2026.
- The appointee has 12-13 years of professional experience in secretarial, legal, and compliance functions.
- The Board meeting for the appointment commenced at 3:30 PM and concluded at 4:00 PM on August 5, 2026.
- Mr. Sugandh is now an authorized official for determining materiality of events under Regulation 30.
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